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Large Pension Doubled Palantir Stake, Bought Up Intel and CVS Stock

One of the largest U.S. pensions recently made a big bet on two tech stocks and a healthcare company, slashing a position in a drug maker.The State of Michigan Retirement Systems doubled a stake in Palantir Technologies, bought up Intel stock, and increased a stake in CVS Health, while it significantly reduced an investment in Bristol Myers Squibb. The pension reported the stock trades, among others, in a form it filed with the Securities and Exchange Commission.State of Michigan Retirement Systems bought 548,400 Palantir shares in the third quarter to lift its investment to 1.06 million shares of the data-analytics firm. Palantir stock soared 117% in the first nine months of 2024, while the S&P 500 gained 21%. So far in the fourth quarter, shares are up 77%, while the index is up 2%.Earlier this month, Palantir reported strong third-quarter earnings and raised its forecast for revenue. Palantir stock was added to the S&P 500 in September, and could be added to the Nasdaq 100, after sw

Large Pension Doubled Palantir Stake, Bought Up Intel and CVS Stock

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The pension reported the stock trades, among others, in a form it filed with the Securities and Exchange Commission.State of Michigan Retirement Systems bought 548,400 Palantir shares in the third quarter to lift its investment to 1.06 million shares of the data-analytics firm. Palantir stock soared 117% in the first nine months of 2024, while the S&P 500 gained 21%. So far in the fourth quarter, shares are up 77%, while the index is up 2%.Earlier this month, Palantir reported strong third-quarter earnings and raised its forecast for revenue. Palantir stock was added to the S&P 500 in September, and could be added to the Nasdaq 100, after sw","content":"<html><head></head><body><p>One of the largest U.S. pensions recently made a big bet on two tech stocks and a healthcare company, slashing a position in a drug maker.</p><p>The State of Michigan Retirement Systems doubled a stake in <a href=\"https://laohu8.com/S/PLTR\">Palantir Technologies</a>, bought up Intel stock, and increased a stake in <a href=\"https://laohu8.com/S/CVS\">CVS Health</a>, while it significantly reduced an investment in <a href=\"https://laohu8.com/S/BMY\">Bristol Myers Squibb</a>. The pension reported the stock trades, among others, in a form it filed with the Securities and Exchange Commission.</p><p>The pension declined to comment. With net assets of more than $108.8 billion, Michigan&#39;s pension is the 21st-largest in the U.S. by assets and the 49th largest in the world.</p><p>State of Michigan Retirement Systems bought 548,400 Palantir shares in the third quarter to lift its investment to 1.06 million shares of the data-analytics firm. Palantir stock soared 117% in the first nine months of 2024, while the S&amp;P 500 gained 21%. So far in the fourth quarter, shares are up 77%, while the index is up 2%.</p><p>Earlier this month, Palantir reported strong third-quarter earnings and raised its forecast for revenue. Palantir stock was added to the S&amp;P 500 in September, and could be added to the Nasdaq 100, after switching its listing to Nasdaq from the NYSE.</p><p>Intel stock was removed from the Dow Jones Industrial Average earlier this month, almost exactly 25 years after joining the index. Intel more than halved a stake in artificial-intelligence firm Astera Labs not too long before the AI company&#39;s shares soared more than 70%.</p><p><a href=\"https://laohu8.com/S/INTC\">Intel</a> shares dropped 53% in the first nine months of 2024. They are up 3.8% in the fourth quarter.</p><p>Michigan&#39;s pension bought 796,200 Intel shares to end the third quarter with 2.3 million.</p><p>The pension bought 1.2 million CVS shares to end the third quarter with 3.2 million.</p><p>CVS warned in mid-October that third-quarter earnings would be weak, saying that CEO Karen Lynch was leaving the role. David Joyner, who had been president of CVS Caremark, the company&#39;s pharmacy-benefit manager, has taken the job.</p><p>CVS shares rose after the presidential election because Donald Trump&#39;s victory was seen as potentially beneficial for its operations in Medicare Advantage plans, which the government funds for seniors.</p><p>CVS stock lost 20% in the first nine months of 2024. So far in the fourth quarter, shares are down 15%.</p><p>Bristol Myers stock was flat in the first nine months of the year. The shares are up 8.7% in the fourth quarter.</p><p>At the end of October, Bristol Myers reported strong third-quarter earnings, and lifted its financial forecasts. The stock got a lift this month after rival AbbVie reported disappointing results from a schizophrenia-drug trial.</p><p>The pension sold four million Bristol Myers shares to end the third quarter with 714,100.</p><p>Inside Scoop is a regular Barron&#39;s feature covering stock transactions by corporate executives and board members -- so-called insiders -- as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Large Pension Doubled Palantir Stake, Bought Up Intel and CVS Stock</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLarge Pension Doubled Palantir Stake, Bought Up Intel and CVS Stock\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-11-18 10:23</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>One of the largest U.S. pensions recently made a big bet on two tech stocks and a healthcare company, slashing a position in a drug maker.</p><p>The State of Michigan Retirement Systems doubled a stake in <a href=\"https://laohu8.com/S/PLTR\">Palantir Technologies</a>, bought up Intel stock, and increased a stake in <a href=\"https://laohu8.com/S/CVS\">CVS Health</a>, while it significantly reduced an investment in <a href=\"https://laohu8.com/S/BMY\">Bristol Myers Squibb</a>. The pension reported the stock trades, among others, in a form it filed with the Securities and Exchange Commission.</p><p>The pension declined to comment. With net assets of more than $108.8 billion, Michigan&#39;s pension is the 21st-largest in the U.S. by assets and the 49th largest in the world.</p><p>State of Michigan Retirement Systems bought 548,400 Palantir shares in the third quarter to lift its investment to 1.06 million shares of the data-analytics firm. Palantir stock soared 117% in the first nine months of 2024, while the S&amp;P 500 gained 21%. So far in the fourth quarter, shares are up 77%, while the index is up 2%.</p><p>Earlier this month, Palantir reported strong third-quarter earnings and raised its forecast for revenue. Palantir stock was added to the S&amp;P 500 in September, and could be added to the Nasdaq 100, after switching its listing to Nasdaq from the NYSE.</p><p>Intel stock was removed from the Dow Jones Industrial Average earlier this month, almost exactly 25 years after joining the index. Intel more than halved a stake in artificial-intelligence firm Astera Labs not too long before the AI company&#39;s shares soared more than 70%.</p><p><a href=\"https://laohu8.com/S/INTC\">Intel</a> shares dropped 53% in the first nine months of 2024. They are up 3.8% in the fourth quarter.</p><p>Michigan&#39;s pension bought 796,200 Intel shares to end the third quarter with 2.3 million.</p><p>The pension bought 1.2 million CVS shares to end the third quarter with 3.2 million.</p><p>CVS warned in mid-October that third-quarter earnings would be weak, saying that CEO Karen Lynch was leaving the role. David Joyner, who had been president of CVS Caremark, the company&#39;s pharmacy-benefit manager, has taken the job.</p><p>CVS shares rose after the presidential election because Donald Trump&#39;s victory was seen as potentially beneficial for its operations in Medicare Advantage plans, which the government funds for seniors.</p><p>CVS stock lost 20% in the first nine months of 2024. So far in the fourth quarter, shares are down 15%.</p><p>Bristol Myers stock was flat in the first nine months of the year. The shares are up 8.7% in the fourth quarter.</p><p>At the end of October, Bristol Myers reported strong third-quarter earnings, and lifted its financial forecasts. The stock got a lift this month after rival AbbVie reported disappointing results from a schizophrenia-drug trial.</p><p>The pension sold four million Bristol Myers shares to end the third quarter with 714,100.</p><p>Inside Scoop is a regular Barron&#39;s feature covering stock transactions by corporate executives and board members -- so-called insiders -- as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4529":"IDC概念","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU1430594728.SGD":"Eastspring Investments - Global Low Volatility Equity AS SGD","LU0882574055.USD":"富达全球健康医疗A ACC","LU1032466523.USD":"高盛全球多资产收益组合Acc","BK4515":"5G概念","LU1670711040.USD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (USD) ACC","CVS":"西维斯健康","BK4532":"文艺复兴科技持仓","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU1059921491.USD":"NORDEA 1 GLOBAL STABLE EQUITY \"HB\" (USDHDG) ACC","LU0061475181.USD":"THREADNEEDLE (LUX) AMERICAN \"AU\" (USD) ACC","IE0002141913.USD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I2\" (USD) ACC","LU1291159041.SGD":"CPR Invest - Global Silver Age A2 Acc SGD-H","LU1718418525.SGD":"JPMorgan Investment Funds - Global Select Equity A (acc) SGD","LU1861558580.USD":"日兴方舟颠覆性创新基金B","BK4534":"瑞士信贷持仓","LU1074936037.SGD":"JPMorgan Funds - US Value A (acc) SGD","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00BJJMRZ35.SGD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I2\" (SGDHDG) ACC","IE00BKVL7J92.USD":"Legg Mason ClearBridge - US Equity Sustainability Leaders A Acc USD","LU2133065610.SGD":"JPMorgan Investment Funds - Global Dividend A (mth) SGD","INTC":"英特尔","BK4575":"芯片概念","LU1585245621.USD":"EASTSPRING INV GLOBAL LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC B","BK4196":"保健护理服务","LU1093756168.USD":"FRANKLIN K2 ALTERNATIVE STRATEGIES \"A\" (USD) ACC","BK4535":"淡马锡持仓","BK4527":"明星科技股","BK4559":"巴菲特持仓","LU0162691827.USD":"BGF US BASIC VALUE \"A4\" INC","LU0306807586.USD":"SCHRODER ISF GLOBAL DIVIDEND MAXIMISER \"A\" (USD) INC QF","LU0114720955.EUR":"SUSTAINABLE GLOBAL HEALTH CARE \"A\" INC","PLTR":"Palantir Technologies Inc.","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","BK4141":"半导体产品","LU0456855351.SGD":"JPMorgan Funds - Global Equity A (acc) SGD","LU2242646821.SGD":"Fidelity Global Dividend Plus A-MINCOME(G)-SGD","LU1670710588.SGD":"M&G (LUX) GLOBAL DIVIDEND \"A\" (SGD) ACC","LU0306806265.USD":"SCHRODER ISF GLOBAL DIVIDEND MAXIMISER \"A\" ACC","LU0237698245.USD":"富达环球地产基金A","BK4581":"高盛持仓","BK4504":"桥水持仓","LU0321505868.SGD":"Schroder ISF Global Dividend Maximiser A Dis SGD","BK4512":"苹果概念","LU0321505439.SGD":"Schroder ISF Global Dividend Maximiser A Acc SGD","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU0985481810.HKD":"SCHRODER ISF GLOBAL EQUITY YIELD \"A\" (HKD) INC M","LU2125154935.USD":"ALLSPRING (LUX) WF GLOBAL EQUITY ENHANCED INCOME \"I\" (USD) INC"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2484150754","content_text":"One of the largest U.S. pensions recently made a big bet on two tech stocks and a healthcare company, slashing a position in a drug maker.The State of Michigan Retirement Systems doubled a stake in Palantir Technologies, bought up Intel stock, and increased a stake in CVS Health, while it significantly reduced an investment in Bristol Myers Squibb. The pension reported the stock trades, among others, in a form it filed with the Securities and Exchange Commission.The pension declined to comment. With net assets of more than $108.8 billion, Michigan's pension is the 21st-largest in the U.S. by assets and the 49th largest in the world.State of Michigan Retirement Systems bought 548,400 Palantir shares in the third quarter to lift its investment to 1.06 million shares of the data-analytics firm. Palantir stock soared 117% in the first nine months of 2024, while the S&P 500 gained 21%. So far in the fourth quarter, shares are up 77%, while the index is up 2%.Earlier this month, Palantir reported strong third-quarter earnings and raised its forecast for revenue. Palantir stock was added to the S&P 500 in September, and could be added to the Nasdaq 100, after switching its listing to Nasdaq from the NYSE.Intel stock was removed from the Dow Jones Industrial Average earlier this month, almost exactly 25 years after joining the index. Intel more than halved a stake in artificial-intelligence firm Astera Labs not too long before the AI company's shares soared more than 70%.Intel shares dropped 53% in the first nine months of 2024. They are up 3.8% in the fourth quarter.Michigan's pension bought 796,200 Intel shares to end the third quarter with 2.3 million.The pension bought 1.2 million CVS shares to end the third quarter with 3.2 million.CVS warned in mid-October that third-quarter earnings would be weak, saying that CEO Karen Lynch was leaving the role. David Joyner, who had been president of CVS Caremark, the company's pharmacy-benefit manager, has taken the job.CVS shares rose after the presidential election because Donald Trump's victory was seen as potentially beneficial for its operations in Medicare Advantage plans, which the government funds for seniors.CVS stock lost 20% in the first nine months of 2024. So far in the fourth quarter, shares are down 15%.Bristol Myers stock was flat in the first nine months of the year. The shares are up 8.7% in the fourth quarter.At the end of October, Bristol Myers reported strong third-quarter earnings, and lifted its financial forecasts. The stock got a lift this month after rival AbbVie reported disappointing results from a schizophrenia-drug trial.The pension sold four million Bristol Myers shares to end the third quarter with 714,100.Inside Scoop is a regular Barron's feature covering stock transactions by corporate executives and board members -- so-called insiders -- as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.","news_type":1},"isVote":1,"tweetType":1,"viewCount":7,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":16,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}